Ferretti Group opens new nautical year with strong order book

Ferretti Group proudly presents itself on the stage of the first, eagerly-awaited event of the 2007-2008 nautical season with seven world previews. Its stand, set out over a total surface area of 1,100 square metres, displays 38 yachts and involves the work over 400 people, both employees and those in side-line businesses. It is the most tangible proof of the huge success the Group enjoys, confirmed year after year.

This appointment comes at the end of the 2006-2007 nautical year, a particularly important one for the Group. The orders collected during the year exceeded 1 billion Euros, an increase of over 25% in the Group’s total backlog compared with the previous year. Production value was close to 1 billion Euros, registering a two figure rise, and overall profitability also increased by two figures. Investments were considerable, too, exceeding 130 million Euros in the last three-year period, for developing new products and increasing production capacity. The expectations for the year which has just begun are excellent, and the contribution of the 7 world previews presented today in Cannes will be decisive: Ferretti 510 and 881 RPH, Pershing 72', SportRiva 56', Mochi Craft Dolphin 64' Fly, Custom Line Navetta 26 and CRN 43.

After English fund Candover acquired the majority stake of the company from Permira (which still holds a share of approx. 10%) in January 2007, and the stake held by Chairman Norberto Ferretti together with the Management team was increased to 40%, the process of strengthening Ferretti Group continued. New CEO, Vincenzo Cannatelli, joined, as did other top managers with long international experience, ready to support the Group in its ambitious growth plan on those markets considered to be most strategic outside Europe.

“I am especially proud to be able to open the 2007-2008 nautical year” – commented Vincenzo Cannatelli – “to share, with our dealers, strategic suppliers, many partners and the international press, the results Ferretti Group has achieved indeed, but most importantly, to share its vision of a future which holds even greater success and satisfaction. An ambitious plan for growth and development, based on key factors, such as international expansion, technological excellence and beginning the development of our Service, the latter strategic in satisfying our clients’ increasingly more evolved demands.”

“As Chairman and Founder of this Group – declared Norberto Ferretti – it is exciting to see our presence in Cannes every year with a number of world previews and such high quality in the yachts displayed. Our aim to steadily consolidate our leading position in the luxury segment continues, with increasingly more exclusive, innovative products, able to anticipate, and in some cases, generate sectorial trends “.

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